BREAKING NEWS ~ Federal judge approves WorldCom settlements

[JURIST] AP is reporting that a federal judge has approved settlements worth over $6 billion in civil litigation related to the WorldCom accounting fraud [JURIST news archive].

1:49 PM ET - Under the deals approved by District Judge Denise Cote, several corporate defendants involved in the fraud, including Citigroup and JPMorgan Chase, and former WorldCom directors will be required to pay back over $6.1 billion to approximately 830,000 investors who lost money when the telecommunications company collapsed in 2002. AP has more.

 

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